MANAGERIAL ECONOMICS FOR COLLEGE AND MBA FULL COURSE OUTLINE

OPTION 2 - Utilize Throughout Course

MANAGERIAL ECONOMICS

Sample Course Outline Schedule of Simulation Games and Exercises

Weeks
Activity
Game
Assignments
Simulation
Exercises
1
Students register online
View online tutorials
2
Students learn basics of game
View guided tour & read Student Manual
* Introduction
3
Divide class into teams to prepare for Competition (students organize & develop strategies)
Practice Game**
4
Team competition begins
Team Decisions Quarter 1
5
Students estimate demand in simulation
Evaluate Demand Activity
Team Decisions Quarter 2
Law of Demand
6
Students verify their demand model and adjust
Team Decisions Quarter 3
Price Elasticity
7
Students estimate production costs in simulation
Evaluate Cost Activity
Team Decisions Quarter 4
Short-run Cost
8
Students verify their cost model and adjust
Team Decisions Quarter 5
Long-run Cost
9-10
Students apply profit maximization rule
Profit Maximization Activity
Team Decisions Quarters 6 &7
Revenue Maximization
11
Students consider gaming theory and cartels
Collusion Activity
Team Decisions Quarter 8
12
Students experience gaming theory & cartels
Collusion Activity continued;
Team Decisions Quarter 9 – the end
13
Teams meet to evaluate performance and learning lessons
None
14
WRAP-UP: Team Presentations - Optional
Team Reports due


* Introduction Simulation Exercises require no knowledge of economics. The objective is to learn about the reports/information within the game. Exercises are automatically graded but we recommend this exercise not be counted toward the student grade.

** Practice games can be graded or not graded, and assigned to the individual or team. We recommend individually played practice games set up to mirror the Team game or build up to it. (i.e. level 1 game with only two decisions, to a level 2 with four decisions). We also recommend the first practice game not be graded.

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Our online economics simulation games provide a method of teaching and learning economic concepts that students find much more meaningful & exciting while building critical thinking skills.

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Milford, NJ 08848

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